Sean Invested $10,000 in a Mutual Fund with a Stated

question 62

Multiple Choice

Sean invested $10,000 in a mutual fund with a stated commission of 6 percent.If each share of the mutual fund had a net asset value of $27,how many shares would Sean be able to purchase?

• A)392.59
• B)394.01
• C)348.15
• D)370.37

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Definitions:

Monopolistically Competitive Firm

A firm that operates in a market with many competitors, each offering a slightly different product.

Profit-Maximizing Quantity

The level of production at which a firm achieves the highest possible profit, where marginal revenue equals marginal cost.

Marginal Revenue

Marginal Revenue refers to the increase in revenue resulting from the sale of one additional unit of a product or service.

Marginal Cost

The growth in the total amount of costs resulting from the manufacture of one more unit of a good or service.